Sprott IPO will close despite Timminco-fueled results.

Despite unanswered questions about Sprott Asset Management’s dealings in Timminco Limited’s stock, the SAM offering will close this coming Friday.

SAM’s Timminco dealings made an outsized impact on SAM’s 2007 revenues and fund performance.

SAM management will be selling all the stock in the offering. None of the proceeds will go the company. Thus the SAM offering could fairly be viewed as similar to Safeguard International Fund’s Timminco-backed stock sales.

Investors in SAM’s funds are buying into its Timminco holdings at prices used to calculate its net asset value not that the $6 average per share cost being discussed on SAM’s road show.

Timminco’s fans believe that the company has built an economically viable silicon purification plant at less than one tenth the industry leaders’ cost in less than a tenth of the time.

Posted in Timminco Limited

Manuel Asensio doesn’t bet often. But when he does, it’s wise to pay attention.

Paul Kaihla
eCompany Now
1 2 3 4 5 6 7 8 9
About Our Founder
Learn more about asensio.com's founder, Manuel P. Asensio, and the website's origins. Click here to be directed to Mr. Asensio’s professional biography.
Media Record
Click here to see selected articles that discuss asensio.com's work and its unique legacy. asensio.com also strives to maintain a complete record of articles dealing with the companies that are the subject of asensio.com research.
Investment Record
Click here to view a list of the companies that have been subjects of asensio.com reporting and click here to see the complete investment record.
Asensio and FINRA
Asensio & Company, Inc. and Manuel P. Asensio are the only dedicated short sellers ever to have been members of FINRA. This unique-minority membership created complications in the regulatory relationship. Being the first activist short investors and among the first FINRA member firms with a website added to the complexity. A statement by Mr. Asensio is available here. Information necessary to obtain a meaningful understanding of the dispute is available in complete form HERE.